Maine legislation · 132nd Legislature
Maine LD481: An Act to Allow a Water District Created by Special Act of the Legislature to Borrow Money and Issue a Warrant Prior to a Default
Status: Signed into law, April 11, 2025
What the bill says
An Act to Allow a Water District Created by Special Act of the Legislature to Borrow Money and Issue a Warrant Prior to a Default.
From the engrossed text:
An Act to Allow a Water District Created by Special Act of the Legislature to Borrow Money and Issue a Warrant Prior to a Default Sec. 1. 35-A MRSA §6103, sub-§1-A is enacted to commission review. A district that makes a determination regarding the district's anticipated revenues under this section may borrow money and issue a warrant in accordance with this subsection. A. Notwithstanding subsection 1, if, prior to a default in the payment of the principal of or interest on a note, bond or other evidence of indebtedness issued by the water district, the district makes a reasonable determination that the district's anticipated revenues from the normal payment of water charges for services rendered for the period beginning on the date of the determination and ending on the last day of the then-current fiscal year will not be sufficient to pay the district's anticipated operating expenses for the same period, the district may borrow money in an amount sufficient to make the payment of principal and interest and other transaction costs related to the borrowing, and the trustees, directors or managing board of the district may issue the district's warrant immediately to those portions of the municipality or municipalities that constitute the district to repay the amount borrowed, plus interest. When making the determination under this paragraph, the district …
Sponsors
- Matthew Beck (D, 122) · primary sponsor
- Michelle Boyer (D, 123)
- Stacy Brenner (D, 30)
- Harrington, Matt A. (R, 33)
- Christopher Kessler (D, 121)
- Rolf Olsen (R, 86)
- Nathan Wadsworth (R, 82)
- Sophia Warren (D, 124)
Latest actions
- : PASSED TO BE ENACTED, in concurrence.
- : PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.
- : Report READ and ACCEPTED, in concurrence.READ ONCEUnder suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED, in concurrence.Ordered sent down forthwith.
- : CONSENT CALENDAR - FIRST DAYUnder suspension of the rules CONSENT CALENDAR - SECOND DAY.The Bill was PASSED TO BE ENGROSSED.Sent for concurrence. ORDERED SENT FORTHWITH.
- : Carried over, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.
- : Received by the Clerk of the House on February 6, 2025.The Bill was REFERRED to the Committee on ENERGY, UTILITIES AND TECHNOLOGY pursuant to Joint Rule 308.2 and ordered printed pursuant to Joint Rule 401.
Subjects: DEFAULTS, Legislature, BONDING, Senate, WATER DISTRICTS, Other
Common questions
- What is LD481?
- LD481 is a bill in the Maine Legislature (132nd Legislature): An Act to Allow a Water District Created by Special Act of the Legislature to Borrow Money and Issue a Warrant Prior to a Default.
- What does LD481 do?
- In its own words: An Act to Allow a Water District Created by Special Act of the Legislature to Borrow Money and Issue a Warrant Prior to a Default.
- What is the status of LD481?
- Signed into law as of April 11, 2025. Latest action: PASSED TO BE ENACTED, in concurrence. (April 8, 2025).
- Who sponsored LD481?
- Matthew Beck (D, 122), with 7 co-sponsors.
- Where is the official record for LD481?
- On the Maine Legislature website: https://legislature.maine.gov/legis/bills/display_ps.asp?LD=481&snum=132
Source: official Maine record. Tracked by Delilah, AI for legislation across all 50 states and Congress.